Ford will have a "Model T moment" when it announces a new EV strategy next month, according to CEO Jim Farley.
The automaker is hosting an event on August 11, where Farley says the company will announce plans for a "breakthrough" EV and EV platform.
According to Farley, the new strategy will help Ford position itself against competition from Chinese automakers.
Anyone know what year it is? According to Ford CEO Jim Farley, it might be 1908 again, as the Blue Oval is about to have another "Model T moment." Speaking on an earnings call on July 30, Farley revealed to investors that the company is planning to announce a new EV strategy in August, which will help position the brand against competition from Chinese automakers.
"On Aug. 11, that will be a big day for all of us at Ford," Farley said on the call. "We will be in Kentucky to share more about our plans to design and build a breakthrough electric vehicle and a platform in the U.S. This is a Model-T moment for us at Ford. A chance to bring a new family of vehicles to the world that offer incredible technology, efficiency, space, and features."
So, in addition to announcing its next electric offering, Ford is also planning to lay out its entire EV strategy, including a new electric platform. Reporting from last year confirmed that Ford was using a small "skunkworks" team to launch a flexible new EV platform capable of building several vehicles "at volume." While the company wouldn't pinpoint exactly what kinds of vehicles those would be, it did confirm that the new platform's focus would be on smaller, low-cost, and profitable vehicles.
Specifically, the new models will be targeting competition from Chinese automakers, which Farley has been vocal about in the past. Speaking on a podcast in October 2024, Farley confirmed he was daily driving a Xiaomi SU7, and that he didn't want to give it up—making him realize that Ford would need to make drastic changes to compete.
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